Goldman Sachs profits jump 22% on investment banking revival

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The profits in Goldman Sachs rose more than five in the second quarter, as a sudden gathering in investment banking services has been added to a record period for stock traders at the American Bank.

The Wall Street Group has overcome comfortable estimates with a net income of $ 3.7 billion for the three months until the end of June, up from $ 3 billion a year ago.

Standard traders have set a record for the second quarter in a row, generating $ 4.3 billion in revenue.

Business through the great market movements in the wake of the “Tahrir Day” tariff ads helped in Donald Trump in April and the subsequent uncertainty about American trade policy.

Goldman also reported higher revenues than expected from fixed income trading and investment banking services.

The fixed income unit exceeded the tight estimates of $ 3.5 billion, but $ 2.2 billion of investment banks mentioned by the integration and acquisition giant was about 400 million dollars better than the analysts expected, and it represents an improvement of more than a quarter of last year.

He echoed the investment banking services after a two -year rescue at the work of Goldman, JPMorgan Chase and Citigroup, whose profits reported one day ago.

In Jpmorgan, investment banking fees increased by 7 percent to $ 2.5 billion and increased by 13 percent to $ 1.1 billion in Citi.

The banks were hoping that the decomposition agenda would facilitate more deals, but the market from the White House trade policy initially made it difficult to complete the integrations and new stock market lists.

Bankers say they now see the construction of momentum in the manufacture of deals.

They have told investors for more than a year that new transactions pipelines were constructive and that companies and money managers need more certainty to move forward in deals.

“At this time, the economy and markets generally respond in general positively to the advanced policy environment,” said David Solomon, CEO of Goldman.

Wall Street CEOs need momentum to prove less transient than other recovery operations – in recent years, bank leaders have spoken of “green buds”, “early roles” and “animal spirits” that are launched for investment banking services before interfering in economic and political uncertainty.

Despite the rise in investment banking fees, these still contribute less in profits than the bank trading sections, which have been over two years responsible for the lion’s share of Wall Street Big Us revenues.